Spanish bank Santander was recently voted as the worst bank for customer satisfaction in a survey carried-out by J.D. Power & Associates. The JD Power study measures customer satisfaction based on six factors (problem resolution; account activities; fees; product offerings; account information; and facility). In a unforgivable blunder, the bank sent up to 35000 UK customers' bank statements to wrong addresses. The statements inlcuded customers' names, account numbers and details of transactions that they had carried-out. The basic issue of 'trust' that customers' expect from a bank was destroyed.
But what angers more the experts about Santander is its faliure to carry-out basic banking operations like opening new accounts, honouring terms and conditions etc. The breakdown of online banking facility compounded the problem.
Ridiculously though, the bank continues to put a weak defence that these problems are of a very small percentage of customers.
Experts are of an opinion that it represents a total administrative failure on part of the bank and also its approach of paying more attention to new cusotmers then caring for old customers.
But administrative processes are no rocket-science in a bank especially when it comes to attending cusotmer grievances. There is definetly a human faliure - an excellent example of a bunch of people working dispassionately and in a disengaged manner.
In an organization where people are engaged and committed, such problems can always be avoided or checked before they become enormous.
I repeat, customer satisfaction and a direct function of employee experiences. Quality of organization-employee relationships translate into quality of relationship between organization and customers.
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